Spire (SR)
Distributes natural gas through regulated utilities across four states.
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Operates regulated natural gas utilities in Missouri, Alabama, Mississippi and Tennessee, earning primarily through approved customer rates tied to gas delivery and infrastructure investment. Interstate pipelines provide a smaller transportation business, while utility results remain seasonal and dependent on state regulation.
Distributes natural gas through Spire Missouri, Spire Alabama, Spire Gulf, Spire Mississippi and Spire Tennessee, serving homes and businesses across Missouri, Alabama, Mississippi and the Nashville region. The recently acquired Tennessee operation expands a business now centered on regulated utilities.
Builds and maintains local distribution networks, procures gas and manages delivery capacity, with customer rates designed to recover approved operating costs and infrastructure investment. Spire STL Pipeline and Spire MoGas Pipeline add interstate transportation alongside the utility operations; gas marketing and storage were divested.
Most earnings come from regulated gas utilities and are concentrated in the winter heating season. Utility rates and investment recovery depend on state commission decisions, while the interstate pipelines operate under federal regulation.
Company facts
Target rangeAs of Sep 21, 2026
Latest analyst notes
| Date | Firm | Action | Prior | Current |
|---|---|---|---|---|
| Sep 21, 2026 | BTIG | Reiterate | Rating: —Target: $101 | Target: $102 |
| Sep 18, 2026 | Morgan Stanley | Reiterate | Rating: —Target: $96 | Target: $88 |
| Sep 15, 2026 | Jefferies | Reiterate | Rating: —Target: $99 | Target: $95 |
| Jul 23, 2026 | BTIG | Target | Target: $99 | Target: $101 |
| Jun 26, 2026 | JP Morgan | Downgrade | Target: $69 | Target: $85 |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments — · Total debt — · Total assets $14.1K · Shareholders' equity $3.6K
- Revenue
- $420.2M
- Operating income
- $23.4M
- Net income
- $210.9M
HistoryDividendAnnual yield
| Institutions | ≈ 87.95% | 53.75M shares | |
|---|---|---|---|
| 402 holders · as of Jun 30, 2026 · largest filers plus last quarter's tail | |||
| Insiders | 0.30% | 183.1K shares | |
| 21 holders · as of Aug 12, 2026 | |||
| Other | ≈ 11.75% | 7.18M shares | |
| remainder | |||
61.11M company shares as of Sep 22, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
This quarter's institutional total failed a plausibility check; shown: the largest filers plus last quarter's remainder.
This company has 3 share classes; every stake here is a share of the whole company.
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
BlackRock, Inc.Institution | 13.99% | 8.55M | as of Jun 30, 2026 |
Vanguard Portfolio Management LLCInstitution | 5.84% | 3.57M | as of Jun 30, 2026 |
State Street CorpInstitution | 5.14% | 3.14M | as of Jun 30, 2026 |
Vanguard Capital Management LLCInstitution | 4.19% | 2.56M | as of Jun 30, 2026 |
American Century Companies IncInstitution | 3.63% | 2.22M | as of Jun 30, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Jun 11, 2026 | Paul D. Koonce | director | +500 | $78.46 |
| Jun 9, 2026 | Ryan L. Hyman | officer: SVP, CCIO | −3,822 | $80.51 |
| Jun 1, 2026 | Paul D. Koonce | director | +500 | $80.50 |
| May 8, 2026 | Paul D. Koonce | director | +2,000 | $85.81 |
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Compare
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Spire | $79.32 | −0.56% | $4.72B | 8.9 | 16.3 | 1.9 | −0.4% |
| Atmos Energy | $158.17 | −0.06% | $26.42B | 18.8 | 17.7 | 5.4 | +4.8% |
| ONE Gas | $74.23 | −0.11% | $4.66B | 16.0 | 15.0 | 2.0 | −2.9% |
| Southwest Gas | $84.97 | +0.38% | $6.13B | 11.8 | 18.2 | 3.5 | −68.0% |
| New Jersey Resources | $53.21 | +0.54% | $5.34B | 14.6 | 16.0 | 2.4 | +16.8% |
| NW Natural | $48.27 | +0.42% | $2.02B | 15.7 | 15.0 | 1.6 | +3.1% |
| Chesapeake Utilities | $132.04 | +0.68% | $3.15B | 20.9 | 19.3 | 3.2 | +4.7% |
| Median | 15.9 | 16.9 | 2.8 | +3.9% |